Interim Receiver Services at Tolpuddle Housing Co-Operative

The City of London is seeking a qualified professional firm to serve as the Interim Receiver or Interim Receiver and Manager for the Tolpuddle Housing Co-operative Inc., a housing project comprising 134 residential units. Appointed under subsections 85(6) and 95(5) of the Housing Services Act, 2011, the successful proponent will be responsible for addressing critical risks in governance, financial administration, operational management, and regulatory compliance. Key deliverables include rapid mobilization, the execution of a stabilization action plan, statutory reporting, and the development of a transition strategy. The initial term of the agreement is 180 days, with the possibility of extension via court order. The procurement process involves a two-stage evaluation consisting of a pass/fail review of mandatory requirements followed by a rated assessment of experience and technical proposals. Proponents must demonstrate collective expertise in receivership, financial oversight, and property management, while adhering to strict compliance standards including WSIB clearance and various provincial health, safety, and accessibility acts. Compensation is based on all-inclusive hourly rates for specific tasks, such as operational administration and governance assessments, with monthly invoicing payable within 30 days. While some work may be performed remotely, regular on-site attendance in London, Ontario, is required.